Financing options can be
overwhelming to all of us. There's simply no way to know about all the
available options, much less decide which one is best for you long-term.
You can choose any lender, but if you want to ensure a worry-free closing,
I have access to a team of first-class mortgage experts who always ensure
that my customers not only understand what mortgage options are available,
but more importantly, receive the best possible rates and terms.

Payment of principle and interest remains the same over the 7-year
period of time (at the end of 7 years, you will need to pay off
the remaining balance with either a lump sum of cash or re-finance
the remaining loan amount).

Adjustable Rate Mortgages (ARM) - There are many options with ARMs;
the most popular tends to be the 1-year ARM with a 30-year
amortization schedule. Benefits include:

Lower interest rate for the 1st year

Easier to qualify for the loan amount

You can qualify for a larger loan amount

A year ARM offers the ability to adjust downward at the 1 year
anniversary of your loan.

I am not a big fan of ARM's because interest rates have been at or
near historical levels for the past five years, so an ARM just
doesn't make sense. Anyone applying for this loan type needs to
be certain that they understand what the future interest rate
adjustments are or you can get into big trouble.

80/10/10 Conventional Loans

a loan program that
consists of an 80% first mortgage + a 10% second mortgage + a 10%
down payment. In this case, since there is no mortgage insurance
required, the buyer will save the monthly premium.

This
loan type (or variations of it) was extremely popular during the
past 3-5 years. The primary purpose of this loan is to avoid paying
PMI (private mortgage insurance) for buyers who were unable to put
down 20%.

It is
always best to consult with a
mortgage broker on the best type of loan program that best meets
your needs and does not over-extend your financial situation.

Based on your situation, what looks like the best program for me &
why?

What is the projected time for processing and closing a loan?

Who services your loans?

If PMI (Private Mortgage Insurance) is required, when and how does
it go away?

What about your rates, terms, fees, etc - are they negotiable?

Are there any special underwriting guidelines you follow?

What if rates go down during the ?lock-in? period?

What do you need to get a loan approved?

Are there any "junk
fees" or administrative/doc prep fees? If some are identified,
can I have it in writing that these will be removed? If not, I
will find another lender.

Need to get pre-qualified for a
Mortgage Loan?Call Anthony Rael at 303.520.3179
or one of my preferred mortgage loan brokers below who can help you
get
pre-qualified for a Mortgage Loan. This is a vital
first step in preparing to purchase a property.